Olympus scandal reflective of Japanese business: Woodford

One business leader who is well versed on Japan, and has strong views on why the once booming country now finds itself languishing enconomically, is Michael Woodford, the former president and CEO of Olympus. Mr Woodford famously blew the whistle on fraudlent business practices at the Japanese corporate giant when he uncovered a $1.7 billion accounting discrepancy. He was subsquently sacked for his actions and forced to flee the country, as he felt that his saftey was under threat from the Japanese mafia. Michael Woodford says that what happened at Olympus is reflective of wider business and political practices in Japan. Whitney Fitzsimmons caught up with him recently while he was in London.